If you are travelling to Europe from Australia, the best time to buy euros with Australian dollars in the last 12 months was in the first week of September 20222. This is because the AUD/EUR peaked at 0.6852, making it nearly the best time to buy euros in over 5 years. It is also higher than the current rate of 0.6091.
On the other hand, the worst time to buy euros in the last 12 months was much more recent. On the 20th of August, the exchange rate hit 0.5860.
The same applies to anyone transferring money to Europe.
As a rule of thumb, if you are buying euros with Australian dollars, you want the AUD/EUR exchange rate to be as high as possible. The higher the rate, the better it is for you. It means that you will receive more euros for the same amount of Australian dollars.
Working out the best time to buy euros with Australian dollars
With a rate tracker, you can get
- Daily emails that tell you what the rate is
- An alert email for a particular rate that you want. For instance, if the AUD/EUR is at 0.6800 but you want to buy it when it gets to 0.7000 then you can set a rate alert for 0.7000 and we'll notify you if it gets there
Make sure to also tell us you date of travel. You won't receive any more emails after this date.
You can also set up more than one alert. Choose a number of currencies including US dollars (USD), Japanese Yen (JPY). British Pounds (GBP) and New Zealand Dollars (NZD).
It's important not to leave it to the last minute. Even though S Money is one of the fastest ways to buy currency in Australia, you can't buy it on the day you are travelling. To allow for time, make sure you have ordered and paid for your euros at least 2 days before you fly out.